Deloitte & Touche Approved Back-Dated Options??

Micrel Inc. granted compensatory options to executives and set the exercise price at the lowest stock price over a thirty day period after the approval of the grant.  They back-dated options.  The company claims that its auditor, Deloitte & Touche, approved the practice.  Many of the compensation schemes would not be done if not cleared by accountants and lawyers.  Those doing the clearing need to face penalties, apparently, to rediscover their professional standards and obligations.